EUR/AUD ST: the upside prevails as long as 1.6000 is support

1.6000 is our pivot point.

Our preference: the upside prevails as long as 1.6000 is support.

Alternative scenario: the downside breakout of 1.6000 would call for 1.5621 and 1.5395.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6178 and 1.5866).

Supports and resistances:

1.7496 **

1.7269 *

1.7042 **

1.6815

1.6350 last

1.6150

1.6000 **

1.5621 *

1.5395 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.

Written on 04-11-2023 at 10:41 UTC+1

Price reference: 1.6350 last known on 04-11-2023 at 10:41 UTC+1

Investment horizon: ST